The Andhra Pradesh Economic Development Board (APEDB) signed Memoranda of Understanding (MoUs) with four leading aerospace and defence companies at AeroIndia 2025 in Bengaluru on Monday, securing investments worth ₹2,458.84 crore.
The agreements are expected to generate direct and indirect employment opportunities for more than 8,000 people.
The companies involved in these strategic partnerships include Sagar Defence Engineering Private Limited, a leader in maritime defence and unmanned surface vehicle technologies; HFCL, a key defence manufacturing firm; Media Matrix Worldwide Limited; and a company specialising in space technology components.
The MoUs were signed in the presence of Industries & Commerce Minister T.G. Bharath, along with senior government officials, including N. Yuvaraj, Secretary to Government, Industries & Commerce and Food Processing Department.
This investment underscores Andhra Pradesh’s ambition to become a premier aerospace and defence hub, leveraging investor-friendly policies, world-class infrastructure, and a strategic location to drive technological advancements and industrial growth, Mr. Bharath observed in a statement in Amaravati on Tuesday.
Published – February 12, 2025 03:58 am IST